Common use of Correction of Defects Clause in Contracts

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (i) any material defect in any part of the Improvements, (ii) any material departure in the development of any part of the Property from the Development Plan and governmental requirements, or (iii) any encroachment by any structure located on the Property upon any building line, easement, property line, or restricted area.

Appears in 10 contracts

Samples: Loan Agreement, Loan Agreement, Loan Agreement

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Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the Improvements, (iib) any material departure in of the development Improvements from the Legal Requirements or the requirements of any part of the Property from the Development Plan Lease, and governmental requirements, or (iiic) any encroachment by any part of the Improvements or any structure located on the Property upon Land on any building line, easement, property line, or restricted area.

Appears in 3 contracts

Samples: Loan Agreement (Innovative Food Holdings Inc), Loan Agreement (Innovative Food Holdings Inc), Loan Agreement (Innovative Food Holdings Inc)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the Improvements, (ii) any material departure in the development of any part of the Property from the Development Plan and governmental requirements, or (iiib) any encroachment by any part of the Improvements or any other structure located on the Property upon on any building line, easement, property line, or restricted area.

Appears in 2 contracts

Samples: Loan Agreement (Capital Senior Living Corp), Loan Agreement (Capital Senior Living Corp)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the New Improvements, (iib) any material departure in the development construction of the New Improvements from the Plans, Governmental Requirements, or the requirements of any part of the Property from the Development Plan and governmental requirementslessee, if applicable, or (iiic) any encroachment by any part of the New Improvements, or any structure located on the Property upon Property, on any building line, easement, property line, or restricted area, or any encroachment by any such structure on any building line, unless Borrower obtains permission for such encroachment.

Appears in 2 contracts

Samples: Secured Construction Loan Agreement (Campus Crest Communities, Inc.), Secured Construction Loan Agreement (Campus Crest Communities, Inc.)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the Improvements, Residence; (iib) any material departure in the development construction of any part of the Property Residence from the Development Plan and governmental requirementsPlans applicable thereto, Governmental Requirements, or the requirements of any lease, if applicable; or (iiic) any encroachment by any structure located on the Property upon any building line, easement, property line, or restricted area.encroachment

Appears in 1 contract

Samples: Loan Agreement (Newmark Homes Corp)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in the Improvements, (b) any material departure in the construction of the Improvements from the Plans, Governmental Requirements, or the requirements of any lessee, if applicable, or (c) any encroachment by any part of the Improvements, (ii) any material departure in the development of any part of the Property from the Development Plan and governmental requirements, or (iii) any encroachment by any structure located on the Property upon Property, on any building line, easement, property line, or restricted area, or any encroachment by any such structure on any building line.

Appears in 1 contract

Samples: Assignment of Leases (Introgen Therapeutics Inc)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the ImprovementsRestoration, (iib) any material departure in the development Restoration from the Plans and Specifications or the requirements of any part of the Property from the Development Plan and governmental requirements, applicable laws or (iiic) any encroachment by any part of the Restoration or any other structure located on the Property upon Land on any building line, easement, property line, or restricted area.

Appears in 1 contract

Samples: Reimbursement Agreement (El Conquistador Partnership Lp)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the Improvements, (iib) any material departure in the development construction of the Improvements from the Plans, Governmental Requirements or the requirements of any part of the Property from the Development Plan and governmental requirementsLease, if applicable, or (iiic) any encroachment by any part of the Improvements or any structure located on the Property upon Land on any building line, easement, property line, or restricted area.

Appears in 1 contract

Samples: Construction Loan Agreement (Stratus Properties Inc)

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Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the Improvements, (ii) any material departure in the development of any part of the Property from the Development Plan and governmental requirements, or (iiib) any encroachment by any part of the Improvements or any other structure located on the Property upon or any Partnership Property on any building line, easement, property line, or restricted area.

Appears in 1 contract

Samples: Loan Agreement (Capital Senior Living Corp)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the Improvements, ; (iib) any material departure in the development construction of the Improvements from the Plans, sound building and engineering practices, Legal Requirements, or the requirements of any part of the Property from the Development Plan and governmental requirementslease, if applicable; or (iiic) any encroachment by any part of the Improvements or any structure located on the Property upon Commercial Land over any building line, easement, property line, or restricted area.

Appears in 1 contract

Samples: Loan Agreement (Aqua Metals, Inc.)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any defect in the Improvements, (b) any material defect departure in the renovation of the Improvements from the Plans, Governmental Requirements, covenants, conditions and restrictions, if applicable, or (c) any encroachment by any part of the Improvements, (ii) any material departure in the development of any part of the Property from the Development Plan and governmental requirements, or (iii) any encroachment by any structure located on the Property upon Property, on any building line, easement, property line, or restricted area, or any encroachment by any such structure on any building line.

Appears in 1 contract

Samples: Acquisition and Renovation Loan Agreement (Mego Financial Corp)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the Improvements, (iib) any material departure in the development construction of the Improvements from the Plans, the requirements hereof, any Governmental Requirements or the requirements of any lessee, if applicable, or any encroachment by any part of the Property from the Development Plan and governmental requirements, Improvements or (iii) any encroachment by any other structure located on the Property upon Land on any building line, easement, property line, or restricted area.

Appears in 1 contract

Samples: Construction Loan Agreement (Meritage Hospitality Group Inc /Mi/)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the Improvements, (iib) any material departure in of the development Improvements from the Legal Requirements or the requirements of any part of the Property from the Development Plan and governmental requirementsLease, if applicable, or (iiic) any encroachment by any part of the Improvements or any structure located on the Property upon Land on any building line, easement, property line, or restricted area.

Appears in 1 contract

Samples: Loan Agreement (Hartman Short Term Income Properties XX, Inc.)

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